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Lew Frankfort

Coach 3rd-Quarter Net Rose 6.2% as Sales, Margins Improve

Coach Inc.'s (COH) fiscal third-quarter earnings rose 6.2% as the luxury handbag and accessories maker's sales edged out consensus estimates.The company's board approved increasing the annual dividend 13% to $1.35, starting with the dividend to be paid in July.Meanwhile, President and Executive Creative Director Reed Krakoff decided not to renew his contract, which expires in June 2014, in order to focus exclusively on his namesake brand. Coach said it is exploring strategic options for the Reed Krakoff brand, which may involve selling it to a group in which Mr. Krakoff would participate. The company has also launched a search for his successor.Shares surged 8.9% to $55.10 premarket as per-share earnings also topped views. The stock has fallen by the same percentage this year through Monday's close.Coach has posted increased profits for more than three years on the strength of its North American direct-to-consumer businesses, global expansion and the opening of men's stores in the U.S....

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  12. Coach 2Q Beats Street on Worldwide Sales Growth

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  1. Coach Declines Comment on Buyout Buzz

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  7. Correction to Coach Earnings Update

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